First Bank of the United States

Secretary of Treasury

What position did Alexander Hamilton hold?

Secretary of State

What position did Thomas Jefferson hold?

France and England

Which countries did Hamilton study the economic history and structure of for ideas for improving the nation's economy?

Public Debt

Hamilton was interested in this type of funding used by England to help build the economy.

Agrarian

Jefferson envisioned the United States to be this type of society, rather than one of banking, business, and profit.

20 years

James Madison opposed the bank charter being this long.

Veto

President George Washington was unsure in his decision of whether he should sign or do this to the bill for the national bank.

IPO

The First Bank's sale of shares was the largest what in the country to date?

Foreign

What were many of the initial investors of the First Bank of the United States?

Vote

What could foreign investors of the First Bank not do?

25

How many directors were on the board that oversought the bank?

7

How many directors needed to be present in order for a meeting to be conducted?

Philadelphia, New York, Boston

Majority of the directors on the board that oversought the First Bank were from which three cities?

Congress

Approval from what body was needed before the First Bank could make loans to states or foreigners?

6%

What was the maximum interest rate for loans allowed under the First Bank Act?

Financial Crisis

In August 1791, wild speculation of bank scrips led to what?

Federal Taxes

First Bank notes were the only banknotes accepted for payment of what?

Customs Duties

Where did most of the Federal Government's tax revenue come from?

Against

In 1810 when the charter for the First Bank was presented to Congress, did the House vote for or against the bill?

Tie

What did the vote of the Senate on the bill creating the First Bank result in?

Vice President

George Clinton had the deciding vote on the charter of the First Bank because he held what position?

Philadelphia

The First Bank of the United States was located where?

James Madison

Who signed the bill in 1816 that created the Second Bank of the United States?

Banknote

What is a negotiable instrument or promissory note used as currency?

Credit Crunch

What is a situation in which banks become unwilling or unable to supply additional credit?

Financial Bubble

What is a market condition created by excessive buying of assets and a resulting run-up in prices called?

Fiscal Agent

What is an organization that handles finances for amother organization?

Sinking Fund

What is a cash fund established by a corporation or government to purchase debt it has issued in order to retire the outstanding debt more quickly?

Specie

What is money in the form of gold or silver called?

Hamilton's Proposal

A national bank could 1) issue paper money; 2) provide a safe place to keep public funds; 3) offer banking facilities for commercial transactions; and 4) act as the governments fiscal agent.